NetworkNewsWire Editorial
Coverage: Cobalt, a metal somewhat overlooked by
investors, is a critical component of lithium-ion batteries used in
mobile devices and essential for the operation of electric vehicles
(EVs). The spot price of cobalt has experienced an increase of 150
percent since the start of 2016, largely as a result of the
exponential growth in the adoption of mobile technology in emerging
economies. However, the real surge in global demand for cobalt will
come from the automotive industry as more countries turn away from
fossil fuel-driven cars to electric vehicles. To make the most of
this surge in demand, Quantum Cobalt
Corp. (CSE: QBOT) (FRA: 23B) is focusing efforts on developing
its Canadian cobalt resources centered near Cobalt,
Ontario.
Quick Bullets:
- China, Britain and France phasing out cars driven by fossil
fuels in favor of alternatives
- Electric vehicles predicted to be as affordable as cars running
on gasoline by 2022
- Cobalt demand projected to surge from current 2,000 tons to
300,000 tons by 2030
- Cobalt price forecast to rise from $60,000 per ton to $100,000
per ton by 2030
The greatest demand for the metal is likely to come from China,
currently the world’s top consumer of cobalt and its largest
automotive industry. China recently announced a requirement that 20
percent of all cars sold by 2025 must operate on alternatives to
fossil fuels. Britain and France have followed suit, declaring a
ban on the sale of cars operating on fossil fuels by 2040 (http://nnw.fm/3uWhW). Tesla (NASDAQ: TSLA) is the
leading manufacturer of EVs, making a significant contribution to
the 2 million electrical vehicles on roads today. Other car
manufacturers are scrambling to catch up. General Motors (NYSE: GM)
has announced plans to launch a range of 20 EVs by 2023,
while Volvo (OTC: VLVLY) is converting its technology to electric
power by 2019. The VW Group (OTC: VLKAY) plans on investing $84
billion in car and battery production for the manufacture of 300 EV
models by 2030. However, China will remain the world’s largest
consumer and producer of EVs for the foreseeable future. Consumers
there bought 507,000 EVs in 2016, an increase of 53 percent over
the previous year. That’s double the sales in Europe and triple
those sold in the U.S. From the current adoption rate of 1
percent of its automotive market, China is expected to see a
12 -fold increase in the number of EVs on its roads in five years’
time.
Batteries account for 33 percent of the cost of manufacturing an
electric vehicle. Bloomberg reports that the price of lithium-ion
batteries fell by 35 percent in 2015 and is on a downward
trajectory, which is predicted to make EVs as affordable as cars
driven by fossil fuels by 2022 (http://nnw.fm/vzP0b). Bloomberg also predicts that by
2040, electric vehicles will account for 35 percent of all new
vehicle sales.
The major problem is that all these projects demand more cobalt
than the world can currently supply. Over 95 percent of the world’s
cobalt is mined as a by-product of nickel and copper.As prices of
these two metals dropped in recent years, many mining companies cut
production, contributing to a rising global cobalt deficit.
MacQuarie Bank predicts a cobalt deficit of 885 tons in 2018, over
3,200 tons in 2019 and more than 5,300 tons in 2020. Quantum Cobalt
Corp. (CSE: QBOT) (FRA: 23B) is positioning itself to take
advantage of this market shortage by focusing efforts on the
development of its reserves in Canada. Currently, over 50 percent
of the world’s cobalt is mined in the Democratic Republic of Congo
(DRC). The DRC presents mining companies with several ethical
issues to contend with, including forced and child labor. The
country is also affected by armed conflict and political
instability, increasing the risk of investment. Consequently,
several mining companies have divested their interests in the DRC
and are turning to North America to develop alternative, safer and
more ethical mining operations.
Quantum
Cobalt has concentrated its efforts in the Cobalt Belt,
centered near Cobalt, Ontario. Its Nipissing Lorrain Cobalt Project
has produced 16,500 pounds of cobalt and 5,500 pounds of silver in
the past, and historic samples show cobalt mineralization of one to
10 inches in this mine. Past assays have shown an unusually
high grade of 22 percent cobalt in this play, which is exceptional
when as little as 0.5 percent is deemed economically viable. The
Rabbit Cobalt Project, located 55 kilometers north of Cobalt, has a
rich history of both cobalt and gold production, and returned an
historic assay of 8.76 percent cobalt. Quantum Cobalt is intent on
conducting mapping, prospecting and sampling focused on the mineral
showing on the Rabbit Lake Occurrence. Roughly 37 kilometers south
of Cobalt is the company’s Kahuna Cobalt Project, which comprises
77 claims over an area of 1,200 hectares and shows historic cobalt
mineralization.
The company is geared up to proceed with imminent exploration
and development of these properties. On October 25, 2017, the
company announced that it had deployed field crews to conduct first
pass exploration on both Kahuna and Rabbit Lake properties. This
preliminary work entails prospecting, geologic mapping, geochemical
surveying and sampling to locate and delineate mineralized
structures.
Quantum Cobalt is led by
an executive team of industry veterans and innovators. Its CEO,
Greg Burns, has more than 22 years of experience in mineral
exploration, holding several executive and operational management
positions with mining and exploration companies in both Canada and
Australia, including Goldstream Mining and Platinum Australia. He
was previously managing director of Xenolith, subsequently
Coalspur Mining Ltd and taken over by the Cline Group in 2015.
Burns also headed up the mergers and acquisitions division of
Capital Investment Partners, an investment bank in Western
Australia. Director Jerry Huang has held several executive
positions with prominent mining companies, including TNR Gold and
International Lithium, which received IPO funding from the largest
battery company in China. Huang has extensive knowledge and
experience in drilling and exploration. Quinn Field-Dyte, director,
has over 10 years of experience in the financial industry and
currently serves on the boards of several companies in the mining
and minerals industry that are listed on the TSX Venture
Exchange.
Cobalt is in short supply and is a critical element used as the
cathode in lithium-ion batteries, making up 35 percent of the
component mix. Current pricing of the metal is expected to
soar with Bloomberg forecasting an increase to almost
$100,000 per ton by 2030. A massive surge in demand for
cobalt is part of that forecast, predicting global growth from the
2,000 tons used now to a startling 300,000 tons in 2030. This
represents phenomenal growth in a market where Quantum Cobalt is
ideally placed to meet future demand, increase revenues and develop
outstanding shareholder value.
Other BIG players to keep your eye on:
Tesla (NASDAQ: TSLA) traded over 5,757,708 shares and closed at
$312.50 yesterday.
General Motors (NYSE: GM) traded over 11,234,942 shares and closed
at $43.60 yesterday.
Volvo (OTC: VLVLY) traded over 14,987shares and closed at $19.27
yesterday.
The VW Group (OTC: VLKAY) traded over 117,742s hares and closed at
$37.78 yesterday.
For more information about the Quantum Cobalt please visit:
Quantum Cobalt
(CSE: QBOT)
Other Quantum Cobalt Articles:
Quantum Cobalt
Corp. (CSE: QBOT) (FRA: 23B) is “One to Watch”
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